EBAY.. short sandwich

Trend Fader · May 27, 2003

Ouch... How many stops to cover were placed in at 100.01?

I hope any rookies learned... never fade a rally... never fade strength.... rallies always last much much longer than your avg. joe expects...

dotslashfuture · May 27, 2003

I hope the newbies watch and see what happens when a momentum stock cracks $100

this one has worked smooth like a swiss watch.

Trend Fader · May 27, 2003

Are you short EBAY now that it hit 100?

--MIKE

heilbronner · May 27, 2003

I'm short right now @102.30. Made money last time by selling naked calls on EBAY. But overall my portfolio is quite long.

alfonso · May 27, 2003

Quote from heilbronner:

I'm short right now @102.30.

Hehe, some people just gotta fight the current!

I'm long it since 99.50 (lol, this morning I was just hoping it would crack 100). Let's see how far this mo can take us. You know, this baby's only something like 20% away from it's all time high. Imagine that? An internet stock so close to it's 2000 high. Maybe we get there?

As much as I love this momentum moves, like today's morning, I just can't figure out a good spot to place a trailing stop. I'm loathe to just pick out some arbitrary number and put it there, so, since I'm expecting a few more points on this one yet, so I'm really going to have to risk giving back all the juicy gains of today, cos I definitely believe it could easily retrace all that on it's way up.

billpritjr · May 27, 2003

not for nothin, but being a Trend Follower, I have to ask

Why would you short a stock that is going up?

Thats like buying a stock that is going down (re: Enron)

bmwstox · May 27, 2003

EBAY is trading at 100 times earnings. You gotta love that P/E esp. when the stock is trading at $103 and the company's market cap. is $32 billion. This is a great short, perception vs. reality. when it comes to the public though.

bmwstox · May 27, 2003

Don't get me wrong, EBAY has a great business model. But is it worth paying 100 times earnings?

Banjo · May 27, 2003

Maybe it ain't the public that's keeping it up there.

Trend Fader · May 27, 2003

Quote from bmwstox:

Don't get me wrong, EBAY has a great business model. But is it worth paying 100 times earnings?

BMW,

What you are saying makes perfect sense...

Except.. since when does the stock market function logically... ?

At this point no one really cares how much money the company is making.. its purely a momentum game...

Supply and demand at its finest...